The March NASDAQ 100 closed lower on Friday as it consolidates some of this month's rally. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 6407.81 would confirm that a short-term top has been posted. If the NASDAQ 100 extends this year's rally into record territory, upside targets will be hard to project. First resistance is Tuesday's high crossing at 6545.75. Second resistance is unknown. First support is the 20-day moving average crossing at 6407.81. Second support is December's low crossing at 6250.00.

The March S&P 500 closed slightly lower in subdued pre-holiday trading on Friday. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2656.11 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 2697.80. Second resistance is unknown. First support is the 10-day moving average crossing at 2677.41. Second support is the 20-day moving average crossing at 2656.11.

The Dow closed lower on Friday as investors found few new reasons to extend this year's rally with major indexes trading near records and on track for their fifth straight weekly advance. Trading was light going into the Christmas holiday; markets will be closed on Monday, while most European markets will also be closed on Dec. 26. In addition, a round of economic data came in roughly in line with expectations, failing to provide investors with much reason to adjust their views on the economy. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 24,371.79 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 24,876.07. Second resistance is unknown. First support is the 10-day moving average crossing at 24,642.23. Second support is the 20-day moving average crossing at 24,371.71.

March T-bonds posted an inside day with a higher close on Friday as it consolidates some of this week's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Closes above the 20-day moving average crossing at 152-25 would confirm that a short-term low has been posted. If March resumes this week's decline, October's low crossing at 149-07 is the next downside target. First resistance is December's high crossing at 154-18. Second resistance is the 75% retracement level of the September-October-decline crossing at 154-21. First support is Wednesday's low crossing at 150-18. Second support is October's low crossing at 149-07.

March T-notes closed down 10/32's at 123-155.

March T-notes closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, weekly support crossing at 122.205 is the next downside target. Closes above the 50-day moving average crossing at 124.072 are needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at 124.162. Second resistance is the reaction high crossing at 124.210. First support is Thursday's low crossing at 123.125. Second support is weekly support crossing at 122.205.

January crude oil closed higher on Friday while extending the trading range of the past two-months.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above November's high crossing at 57.05 or below November's low crossing at 55.00 are needed to confirm a breakout of the November-December trading range. First resistance is November's high crossing at 57.05. Second resistance is weekly resistance crossing at 60.00. First support is November's low crossing at 55.00. Second support is the 38% retracement level of the June-November-rally crossing at 53.04.

January heating oil closed higher on Friday as it extends the trading range of the past two-months. The high-range close sets the stage for a steady to higher opening when Tuesday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January resumes the rally off October's low, the 50% retracement level of the 2014-2016-decline crossing at 198.69 is the next upside target. Closes below the reaction low crossing at 185.97 would confirm a downside breakout of the aforementioned trading range. First resistance is the 50% retracement level of the 2014-2016-decline crossing at 198.69. Second resistance is the 62% retracement level of the 2014-2016-decline crossing at 216.85. First support is the reaction low crossing at 185.97. Second support is November's low crossing at 185.45.

January unleaded gas closed higher on Friday as it extended this week's rally. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends this week's rally, the reaction high crossing at 178.95 is the next upside target. If January renews the decline off December's high, December's low crossing at 185.97 is the next downside target. First resistance is December's high crossing at 175.89. Second resistance is weekly resistance crossing at 202.82. First support is last Wednesday's low crossing at 164.38. Second support is the 38% retracement level of the June-November-rally crossing at 160.49.

January Henry natural gas closed higher due to short covering on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off November's high, weekly support crossing at 2.522 is the next downside target. Closes above the 20-day moving average crossing at 2.833 are needed to confirm that a short-term low has been posted. First resistance is Monday's high crossing at 2.778. Second resistance is the 20-day moving average crossing at 2.833. First support is Thusday's low crossing at 2.568. Second support is weekly support crossing at 2.522.

The March Dollar closed higher on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last week's, the reaction low crossing at 92.69 is the next downside target. Closes above last Tuesday's high crossing at 93.83 are needed to renew the rally off November's low. First resistance is the reaction high crossing at 94.23. Second resistance is November's high crossing at 94.76. First support is the reaction low crossing at 92.69. Second support is the 62% retracement level of the September-November-rally crossing at 92.23.

The March Euro closed lower on Friday while extending the trading range of the past six-weeks. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above November's high crossing at 120.44 or below the reaction low crossing at 117.97 are needed to confirm a breakout of the aforementioned trading range while pointing the direction of the next trending move. First resistance is November's high crossing at 120.44. Second resistance is the reaction high crossing at 121.50. First support is the reaction low crossing at 117.97. Second support is November's low crossing at 116.48.

The March British Pound closed slightly lower on Friday. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off December's high, the 50-day moving average crossing at 1.3330 is the next downside target. If March renews the rally off November's low, September's high crossing at 1.3695 is the next upside target. First resistance is November's high crossing at 1.3598. Second resistance is September's high crossing at 1.3695. First support is the 50-day moving average crossing at 1.3330. Second support is the reaction low crossing at 1.3273.

The March Swiss Franc closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March renews the rally off October's low, the 50% retracement level of the July-September-decline crossing at 1.0412 is the next upside target. If March resumes the decline off December's high, November's low crossing at 1.0062 is the next downside target. First resistance is December's high crossing at 1.0352. Second resistance is the 50% retracement level of the July-September-decline crossing at 1.0412. First support is December's low crossing at 1.0103. Second support is October's low crossing at 1.0064.

The March Canadian Dollar closed slightly higher on Friday while extending the trading range for the past two-months. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 79.31 or below October's low crossing at 77.54 are needed to confirm a breakout of the October-December trading range. First resistance is the reaction crossing at 79.31. Second resistance is October's high crossing at 80.42. First support is October's low crossing at 77.54. Second support is the July's low crossing at 77.16.

The March Japanese Yen closed higher on Friday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off November's high, November's low crossing at 0.8783 is the next downside target. Closes above the 20-day moving average crossing at 0.8920 would confirm that a short-term low has been posted. First resistance is November's high crossing at 0.9073. Second resistance is the 62% retracement level of the September-November-decline crossing at 0.9141. First support is December's low crossing at 0.8840. Second support is November's low crossing at 0.8782.

February gold closed higher on Thursday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher price are possible near-term. Closes above the 50-day moving average crossing at 1283.10 would open the door for a possible test of November's high crossing at 1303.40. Closes below the 10-day moving average crossing at 1260.90 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 1283.10. Second resistance is November's high crossing at 1303.40.First support is December's low crossing at 1238.30. Second support is the 87% retracement level of the July-September-rally crossing at 1233.90.

March silver closed higher on Friday and above the 20-day moving average crossing at 16.217 confirming that a short-term low has been posted. The high-range close set the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the decline off November's high, July's low crossing at 15.225 is the next downside target. First resistance is the 50-day moving average crossing at 16.763. Second resistance is November's high crossing at 17.485. First support is the 87% retracement level of the July-September-rally crossing at 15.626. Second support is July's low crossing at 15.225.

March copper closed higher on Friday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices is possible near-term. If March extends the aforementioned rally, October's high crossing at 327.90 is the next upside target. Closes below the 20-day moving average crossing at 308.41 would confirm that a short-term top has been posted. First resistance is today's high crossing at 324.30. Second resistance is October's high crossing at 327.90. First support is the 20-day moving average crossing at 308.41. Second support is December's low crossing at 294.30.

March corn closed higher on Friday and above the 20-day moving average crossing at 3.51. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 3.56 1/4 are needed to confirm that a short-term low has been posted. If March resumes the decline off November's high, weekly support crossing at 3.32 is the next downside target. First resistance is the 50-day moving average crossing at 3.56 1/4. Second resistance is the reaction high crossing at 3.69 1/4. First support is Tuesday's low crossing at 3.46 1/2. Second support is weekly support crossing at 3.32.

March wheat closed down 2-cents at 4.25.

March wheat closed lower on Friday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 4.37 are needed to confirm that a short-term low has been posted. If March resumes the decline off July's high, psychological support crossing at 4.00 is the next downside target. First resistance is the 50-day moving average crossing at 4.37. Second resistance is the reaction high crossing at 4.60 3/4. First support is December's low crossing at 4.10 1/2. Second support is psychological support crossing at 4.00.

March Kansas City Wheat closed down 2-cents at 4.22 1/4.

March Kansas City wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 4.35 1/4 are needed to confirm that a short-term low has been posted. If March resumes the decline off September's high, psychological support crossing at 4.00 is the next downside target. First resistance is the 50-day moving average crossing at 4.35 1/4. Second resistance is reaction high crossing at 4.51 1/2. First support is December's low crossing at 4.10 1/2. Second support is psychological support crossing at 4.00.

March Minneapolis wheat closed down 5-cents at 6.12.

March Minneapolis wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off November's high, the 87% retracement level of the April-July-rally crossing at 5.89 1/2 is the next downside target. Closes above the 50-day moving average crossing at 6.29 1/2 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 6.29 1/2. Second resistance is December's high resistance crossing at 6.34. First support is last Tuesday's low crossing at 6.05. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/2.

January soybeans closed up on Friday as it consolidates some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends this month's decline, the late-August low crossing at 9.40 3/4 is the next downside target. Closes above the 20-day moving average crossing at 9.80 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 9.80. Second resistance is December's high crossing at 10.15. First support is September's low crossing at 9.47 1/2. Second support is the late-August low crossing at 9.40 3/4.

January soybean meal closed down $1.30 at 312.90.

January soybean meal closed lower on Friday as it the decline off December's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends this month's decline, November's low crossing at 311.60 is the next downside target. Closes above the 20-day moving average crossing at 326.40 would confirm that a low has been posted. First resistance is the 20-day moving average crossing at 326.40. Second resistance is December's high crossing at 348.20. First support is today's low crossing at 312.70. Second support is November's low crossing at 311.60.

January soybean oil closed up 4 pts. At 32.71.

January soybean oil posted an inside day with a higher close on Friday as it consolidated some of the decline off November's low. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off November's high, October's low crossing at 32.47 is the next downside target. Closes above the 20-day moving average crossing at 33.38 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 33.38. Second resistance is the 50-day moving average crossing at 34.06. First support is October's low crossing at 32.47. Second support is the reaction low crossing at 32.05.

February hogs closed higher on Friday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving average crossing at 69.23 confirmed that a short-term low has been posted. If February renews the aforementioned decline, the 62% retracement level of the August-November-rally crossing at 65.43 is the next downside target. First resistance is today's high crossing at 70.13. Second resistance is the reaction high crossing at 72.25. First support is November's low crossing at 66.25. Second support is the 62% retracement level of the August-November-rally crossing at 65.43.

February cattle closed down $1.10 at 118.58.

February cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 120.85 are needed to confirm that a short-term low has been posted. If February renews the decline off November's high, the 75% retracement level of the August-November-rally crossing at 115.06 is the next downside target. First resistance is the 20-day moving average crossing at 120.85. Second resistance is the reaction high crossing at 126.78. First support is December's low crossing at 117.58. Second support is the 75% retracement level of the August-November-rally crossing at 115.06.

January Feeder cattle closed down $1.38 at $141.55.

January Feeder cattle closed lower on Friday as it extended the decline off November's high. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off November's high, the 50% retracement level of the February-October-rally crossing at 138.56 is the next downside target. Closes above the 20-day moving average crossing at 147.78 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 147.78. Second resistance is the 50-day moving average crossing at 152.13. First support is Wednesday's low crossing at 140.97. Second support is the 50% retracement level of the February-October-rally crossing at 138.56.

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March coffee closed lower due to profit taking ahead of the Christmas Holiday on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 12.42 would confirm that a short-term low has been posted. If March renews the decline off November's high, weekly support crossing at 11.34 is the next downside target.

March cocoa closed sharply lower on Friday and renewed the decline off November's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging but have turned neutral to bearish again signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, weekly support crossing at 17.91 is the next downside target. Closes above the 20-day moving average crossing at 19.43 would confirm that a short-term low has been posted.

March sugar posted an inside day with a lower close on Friday as it consolidated some of this week's rally but remains above the 20-day moving average crossing at 14.47. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the decline off November's high, June's low crossing at 13.50 is the next downside target.

March cotton closed slightly lower on Friday as it consolidated some of the rally off October's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, weekly resistance crossing at 79.29 is the next upside target. Closes below the 20-day moving average crossing at 74.09 are needed to confirm a short-term top has been posted.